As more marketing campaigns and strategies move toward social media and online platforms, there has been an upsurge in demand for marketing data analytics and experts believe that artificial intelligence (AI) technology will soon meet this demand.
The AI used in marketing is known as AIM (AI marketing) and gathers data on past sales, audience interaction and engagement as well as predicts the success of future products and possibilities. Here’s how businesses will incorporate AIM in the future to help you make a decision on whether or not you should invest in AIM yourself.
AIM is mainly used for sales forecasting, understanding customers, finding trends in data, programmatic advertisement targeting and content creation. Albeit expensive to incorporate into your existing business system (ranging from $0 to $40 000 each year), AIM software can help with both difficult and tedious tasks to improve efficiency and quality.
AIM in sales forecasting involves analysing data from your emails, meetings and even phone calls, on previous sales and deals made by your business. By analysing your old records of business operations, AIM can accurately predict the direction your business is heading in, in terms of future sales and marketing campaigns. AI technology will also assist you in gaining a better understanding of your clients, as with online subscriptions and account-based services, AIM can easily gather data on your customers, their likes and dislikes and any purchasing trends that might come in handy.
Finding trends in your business inputs and outputs is another feature AIM can add into your business. AIM can analyse large chunks of data that a regular computer or data analytic cannot, by observing both past and real-time operations within your business. Building on from finding trends, AIM and its ability to programmatically target your advertisements can also improve your reach and audience engagement, as AI can direct your advertisements to specific customers who match your business criteria on social media and online browsing platforms (e.g. Facebook advertisements).
AIM can also target simple content creation tasks by writing up short updates on your business, stocks, financial reports, sport news and other technical topics. Of course, AIM cannot replace experienced content writers but it can provide you with extra updates for your blogs and social media to keep your SEO levels up and take some time off your existing writers.
As AI technology can be incorporated into business strategies in so many ways, there is no doubt that it can only benefit your operation.s However, choosing the right third-party AIM software with pricing relative to your outputs is a necessary step to deciding whether or not incorporating AIM into your business is the right call.